Singapore’s FSL Trust Management said on Friday that the arrangement to sell the 15-year-old chemical tanker FSL London had been mutually canceled.
The 19,966 dwt Japanese-built vessel was sold in September for $10.2 million to Singapore-listed Indonesian owner Samudera Shipping. The deal included a time charter with Golden Stena Baycrest Tankers, paying a reported $12,000 per day.
According to FSL, the sale fell through due to delivery schedule delays caused by a customs probe into cargo specifications.
As part of the initial deal, FSL received a 10% deposit in escrow, which has now been returned to Samudera. The FSL London was purchased for $45m in 2006.